Metatron Inc (PINK:MRNJ) management has a good grasp of how to work the suspense angle. On Jan. 3, MRNJ came out with an announcement on their site, which provided updates on operations, but more importantly promised a “major announcement” was on the way. Yesterday, the price jumped 35.42% up and trade was active through the whole session, resulting in a volume above average and a closing price of $0.0325, and this doesn’t even seem to be the culmination point.[BANNER]
A lot of traders were keeping an eye on MRNJ, waiting for the promised huge announcement. The anticipation was building up, and the company released another PR. Surprisingly (or not), it was not the promised one, but with spirits running high, it was quite enough to get the wheels moving. What seemed to be the reason for the activity at the end of the session, though, was not the news.
This post appeared shortly after 3PM. The idea of the number of outstanding shares being reduced dramatically triggered another buying frenzy. It is possible the wrong number was behind some of the trade earlier too, as this other post seems to indicate.
Whether Pacific Stock Transfer Co., MRNJ’s transfer agent, made an honest mistake or not, it had a significant effect on the performance of MRNJ stock yesterday. Not only was it a good day for MRNJ stock and management, but also the major announcement is still a mystery, and suspense is still building up.
